ResMed Inc. (NYSE:RMD) Shares Set to Pay Quarterly Dividend of $0.66

ResMed Inc. (NYSE:RMD) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Thursday, November 12th will be given a dividend of $0.66 per share by the medical equipment provider on Thursday, December 17th. This represents a $2.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 12th.

ResMed has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 13 years. ResMed has a payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect ResMed to earn $13.19 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 20.0%.

ResMed Price Performance

NYSE:RMD opened at $252.00 on Friday. The firm has a market capitalization of $35.44 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 1.53 and a beta of 0.75. The business has a 50 day simple moving average of $231.83 and a 200-day simple moving average of $225.57. ResMed has a 1 year low of $180.26 and a 1 year high of $277.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 29th. The medical equipment provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.67 by $0.24. ResMed had a return on equity of 25.58% and a net margin of 26.94%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the business posted $2.55 EPS. ResMed’s quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts forecast that ResMed will post 12.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler decreased their price objective on shares of ResMed from $233.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. Robert W. Baird set a $213.00 price objective on ResMed in a research note on Friday, August 7th. KeyCorp lifted their price target on shares of ResMed from $267.00 to $277.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup reissued a “neutral” rating on shares of ResMed in a research report on Thursday, September 10th. Finally, UBS Group reaffirmed a “buy” rating and set a $300.00 price target on shares of ResMed in a report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $246.31.

ResMed Company Profile

ResMed Inc is a medical equipment and software company that develops solutions for sleep-disordered breathing, respiratory conditions and other chronic diseases. The company is best known for its positive airway pressure (PAP) devices used to treat obstructive sleep apnea, along with masks, accessories and related patient support services.

ResMed also provides cloud-connected health technology, including remote-monitoring platforms and software used by healthcare providers, medical equipment suppliers and care organizations.